topic Re: Bank of America Accerated Rewards AMEX... in Credit Cards

Bank of America Accerated Rewards AMEX...

BetterTomorrow — Wed, 01 Oct 2008 22:15:11 GMT

I got an email about this card and I think I'm in love. What kind of scores do you need to get this card? I went to whogavemecredit.com but I can't seem to find the right info. Any thoughts?

Re: Bank of America Accerated Rewards AMEX...

Donks3369 — Wed, 01 Oct 2008 22:26:42 GMT

Better,

If you don't mind me asking, what is so great about this card. I'm trying to research it and I don't see anything that special. What am I missing? Thanks.

Re: Bank of America Accerated Rewards AMEX...

emoticon — Wed, 01 Oct 2008 22:31:26 GMT

It looks cool. That's why.

I had a 695 Equifax FICO when I got this card. I already had a Visa card with BOA.

Re: Bank of America Accerated Rewards AMEX...

BetterTomorrow — Wed, 01 Oct 2008 22:50:01 GMT

I have Delta Sky Miles right now and this Amex seems to have better rewards...

Introducing a new card from Bank of America , where you earn rewards 25% faster.1 With the Bank of America Amex, you get: 1.25 WorldPoints® points for every $1 in net retail purchases — every purchase, every time
Unlimited reward points
No annual fee
You can redeem your points for travel, merchandise, cash, and more.

Message Edited by BetterTomorrow on 10-01-2008 03:50 PM

Re: Bank of America Accerated Rewards AMEX...

Scamp — Wed, 01 Oct 2008 23:22:13 GMT

@BetterTomorrow wrote:
I have Delta Sky Miles right now and this Amex seems to have better rewards...

Introducing a new card from Bank of America , where you earn rewards 25% faster.1 With the Bank of America Amex, you get: 1.25 WorldPoints® points for every $1 in net retail purchases — every purchase, every time
Unlimited reward points
No annual fee
You can redeem your points for travel, merchandise, cash, and more.
Message Edited by BetterTomorrow on 10-01-2008 03:50 PM

Last time I checked, if you have (or open) a BofA checking acct., you'll get a 25% bonus on top of that, effectively making your point-earning power 1.5%.

I was approved with scores around 680, I think, but this was back in April, before the economy started going haywire.

If you're at all interested in a Cash version of this card, there IS one - same kind of earnings set-up, I believe (check on that, though), but strictly a cash-back card.

Re: Bank of America Accerated Rewards AMEX...

llecs — Thu, 02 Oct 2008 01:25:10 GMT

@BetterTomorrow wrote:
I got an email about this card and I think I'm in love. What kind of scores do you need to get this card? I went to whogavemecredit.com but I can't seem to find the right info. Any thoughts?

DW has the card. Was approved with an EX of 610-615 via the CC pre-approval link.

Re: Bank of America Accerated Rewards AMEX...

haulingthescoreup — Thu, 02 Oct 2008 01:47:40 GMT

BetterTomorrow wrote:
I got an email about this card and I think I'm in love. What kind of scores do you need to get this card? I went to whogavemecredit.com but I can't seem to find the right info. Any thoughts?

Do a search here on the forums for posts by cheddar on this card. He got it, or tried to get it, and he had a very detailed analysis on it.

Re: Bank of America Accerated Rewards AMEX...

Uncle_Money — Thu, 02 Oct 2008 04:08:57 GMT

I have it and it is one of my top cards. Personally, I have nothing bad to say about Bank of America. They are extremely generous and all you have to do is talk to them. <- My opinion.

PROS

- Looks very cool

- High credit line - I have 18K

- Rewards add up quickly

- Very low introductory APR - Mine is 1.9%

CONS

- It's a credit card! This means we have to pay it all back folks!

Re: Bank of America Accerated Rewards AMEX...

Geordi — Thu, 02 Oct 2008 05:34:30 GMT

@Uncle_Money wrote:

CONS

- It's a credit card! This means we have to pay it all back folks!

ROFLOL

Re: Bank of America Accerated Rewards AMEX...

KingAdrock — Thu, 02 Oct 2008 05:50:08 GMT

@scapegrace13 wrote:

Last time I checked, if you have (or open) a BofA checking acct., you'll get a 25% bonus on top of that, effectively making your point-earning power 1.5%.

I'm fairly sure that's with the BankAmericard, not the BofA Amex.

Re: Bank of America Accerated Rewards AMEX...

Anonymous — Thu, 02 Oct 2008 07:31:35 GMT

Four comments:

#1) I looked for the cheddar posts that haulingthescoreup was referring to. Are the posts in these two threads the ones that she was referring to ?

( link #1 ) , ( link #2 )

#2) In regards to the bonus .25%, I found another interpretation ( link ):

"Just a caveat on the Accelerated AmEx - if I understood the T&C for it correctly, it's a relationship-based card, and you only get the extra point earnings if you have a checking and/or savings account with BofA. Otherwise, it's just a 1:1 ratio earner like the regular BofA AmEx."

#3) In regards to people's enthusiasm in the cash back version of the Accelerated Rewards BofA Amex, what is appealing to me about is that it and the (currently discontinued) Citi Dividend Platinum Select Amex appear to have the highest cash back rate out of the all the Amex cards issued by banks other than American Express.

#4) On the other hand, what has me holding off on applying for the cash back Accelerated Rewards BofA Amex is this article about the sudden rate jackings of responsible BofA customers at the beginning of this year:

"Bank of America blindsiding cardholders? The nation's biggest bank is doubling interest rates for some of its most responsible credit card customers"
( link )

Message Edited by MojaveMoon on 10-02-2008 12:31 AM

Re: Bank of America Accerated Rewards AMEX...

nuugatman — Thu, 02 Oct 2008 08:39:15 GMT

I have the card, and one thing that annoys me about it is that the redemption rate cancels the benefit of getting 1.25% back.

For example, a $50.00 best buy gift card costs $6,000 points and a $12.50 check=2,500 points! I'm not sure if the all cash back version works the same way.

Re: Bank of America Accerated Rewards AMEX...

nicemann — Thu, 02 Oct 2008 13:42:28 GMT

@nuugatman wrote:
I have the card, and one thing that annoys me about it is that the redemption rate cancels the benefit of getting 1.25% back.

For example, a $50.00 best buy gift card costs $6,000 points and a $12.50 check=2,500 points! I'm not sure if the all cash back version works the same way.

I have the card also and it depends on the amount you are cashing out at. For example I have 25,000 points so I could get a $250 check. That would make me spend $20,000 to get the $250. That is 1.25% back.

Re: Bank of America Accerated Rewards AMEX...

KingAdrock — Thu, 02 Oct 2008 16:17:06 GMT

@scapegrace13 wrote:

Last time I checked, if you have (or open) a BofA checking acct., you'll get a 25% bonus on top of that, effectively making your point-earning power 1.5%.

With the BankAmericard® WorldPoints® Rewards Visa® card, you'll earn Points towards rewards with every purchase.

* Earn 1 Base Point for every $1 in net retail purchases.
* With a banking relationship, you'll also be eligible to earn an additional .25 bonus Points for every $1 in net retail purchases each month. Maintain this relationship, and we'll also match your base Points earned during the year by 25%.

BankAmericard = 1.5 points. BofA Amex = 1.25 points.

Re: Bank of America Accerated Rewards AMEX...

Scamp — Thu, 02 Oct 2008 17:05:47 GMT

@KingAdrock wrote:
@scapegrace13 wrote:
Last time I checked, if you have (or open) a BofA checking acct., you'll get a 25% bonus on top of that, effectively making your point-earning power 1.5%.

With the BankAmericard® WorldPoints® Rewards Visa® card, you'll earn Points towards rewards with every purchase.

* Earn 1 Base Point for every $1 in net retail purchases.
* With a banking relationship, you'll also be eligible to earn an additional .25 bonus Points for every $1 in net retail purchases each month. Maintain this relationship, and we'll also match your base Points earned during the year by 25%.

BankAmericard = 1.5 points. BofA Amex = 1.25 points.

Okay, okay - my bad! lol. Thanks for the catch and correction, K.A.

Sorry, OP - got my cards mixed up!!

Re: Bank of America Accerated Rewards AMEX...

tralyn05 — Thu, 02 Oct 2008 17:26:44 GMT

I recieved this e-mail also and decided to apply, I don't think i was approved I recieved this message.

Thank You!

Thank you for submitting a credit card application.

Your business is appreciated and careful consideration is being given to your request, but an instant decision cannot be provided at this time.

You will receive a written response within the next 30 days.

wonk wonk!

Re: Bank of America Accerated Rewards AMEX...

BetterTomorrow — Thu, 02 Oct 2008 22:07:34 GMT

tralyn05, what were your scores?

Re: Bank of America Accerated Rewards AMEX...

tralyn05 — Fri, 03 Oct 2008 00:41:57 GMT

My scores are Transunion..647....experian...625..Equifax...620

I thought maybe i was pre-approved b/c i recieved the e-mail from BOA and also on the View your Special Offers section that card is listed so maybe not... Hopefully I will at least get the 99/500 offer

Re: Bank of America Accerated Rewards AMEX...

tralyn05 — Fri, 03 Oct 2008 16:57:41 GMT

WOWWWWWWW I was approved and I can't believe it I recieved a call telling me to call BOA back regarding an application that I submitted. I called them back and they asked several questions about my job, income and an old WAMU/Providian account that was charged off but paid.. I was approved for 3000 and wanted to transfer my Cap One and Wells Fargo Visa but that would make my utilization high so I asked her to take off one of them she immediately told me that she understood and told me that she would change my limit to 5000 wow..I'm glad I spoke up!!! She told me that it will be here in 7 days...Soooo Happy